A free trade agreement between China and South Korea was signed in Seoul on June 1. The agreement signals good news for Chinese customers around the country.

Under the deal, South Korea will eliminate tariffs on 92 percent of all products from China, - including cosmetics, electronic products and food produced within 20 years - while China will abolish tariffs on 91 percent of all South Korean goods. The move is expected to increase overseas purchasing between the two countries, as buyers and customers seek to benefit from cheaper products.

The pact is also expected to boost tourism in South Korea. According to statistics from the Yantai tourism bureau, 56,000 residents traveled from Yantai to South Korea on package tours in 2014, accounting for 38.3 percent of the total number of outbound visitors to South Korea from Yantai.

Zhao Shujuan, manager of China (Yantai) International Travel Service (CITS), said that 10 package tours from her agency are organized to South Korea every week. Tour package prices range from 1,100 ($179.38) yuan to 2,800 ($456.60) per person.

The free trade agreement will prompt a rush of tours to South Korea due to lower costs, according to Zhao.

"With the depreciation of the South Korean won, there are an increasing number of tourists shopping in South Korea. From January to May, the number of visitors to South Korea from Yantai rose by 10 percent, compared with the same period last year," said Zhao.